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Jack Ma sold part of his stake in Alibaba

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
It seems that charity costs Jack Ma a lot of money.

If we talk about a company's exceptional performance, we talk about Alibaba. The Chinese e-commerce giant grew by 40% in just one year. The stock’s ascension was helped by beating expectations, although the Chinese economy started to slow down due to the pandemic. 

The company’s annual filing released on Friday showed that its co-founder Jack Ma has now only a 4.8% stake in the company, from last year’s initial 6.2%.  Given the current stock price, specialists believe that Ma cashed out around $8.2 billion. 

But Jack Ma is not the first to cash out. The company’s executive vice-chairman Joseph Tsai reduced his stake to 1.6% from 2.2%. As of Friday, the shares that he sold worth $3.3 billion. 

A filing from Jack Ma to the Securities and Exchange Commission (SEC) from April 2019 revealed his plans to sell 21 million shares in one year to sustain charity and philanthropy works.

The market didn’t budge over the news, and the stock is currently trading higher by 0.34%.

Read all about the latest financial events on CAPEX.com!

Sources: reuters.com, finance.yahoo.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.